Geoinformation analysis of the influence of repair and construction works on the investment attractiveness of real estate
DOI:
https://doi.org/10.26565/2310-9513-2024-20-04Keywords:
real estate, investing, income, rate of return, primary real estate market, direct capitalization methodAbstract
The article considers the actual problem of investing in the primary real estate market. The subject of the research is the residential real estate market in different regions of Ukraine. The purpose of the article is to research residential real estate on the primary market of Ukraine, depending on its condition. The type of repair has a significant impact on the final cost of an apartment in a new building. The ratio of the cost of an apartment without repairs and the cost of further repairs, as well as the region where the apartment is located, can provide an answer to the expediency of investing funds by the stakeholder. Such a large number of factors cannot be taken into account without the use of geographic information systems, which enable both the accumulation and processing of large data sets and the use of spatial reference. The purpose of the article is to study the changes in the cost of renting and selling m2 of the primary market of residential real estate depending on the city of Ukraine and the impact of different types of repairs on the real estate value. As well as determination of the capitalization rate by regions that were studied. During the research, general scientific methods of system analysis and geostatistics methods were used to transform data from a discrete to a continuous form of representation when processing arrays of data on various types of real estate. The work uses the direct capitalization method to determine the rate of return. During the research, cartograms were constructed for different cities of Ukraine regarding the average cost and rental rate per m2 of real estate in the primary market. The influence of various types of repairs on the value of real estate was studied. The capitalization rate was determined for the regions studied. Conclusions were drawn regarding the prospects for investing in the residential real estate market, as well as options for investing in real estate in different cities of Ukraine and obtaining maximum returns. The results obtained by the authors will be useful to stakeholders, realtors, appraisers and other market specialists for calculating returns on the primary real estate market.
References
Павлов К. Ринок житлової нерухомості України у воєнний час. Актуальні проблеми науки, освіти та суспільства: світові тенденції та регіональний аспект. I Міжнародної науково-практичної конференції ГО «ІЕЕЕД», м. Луцьк, 20 березня 2024 року. Луцьк : ФОП Мажула Ю.М., с. 97-106.
Кобзан С.М, Поморцева О.Є. Будівництво та ринок нерухомості. Проблеми та тенденції. Publishing House «European Scientific Platform», «UKRLOGOS Group». 2020, с. 73-81.
Лапішко М.Л., Гохберг І.І. Особливості визначення ставки капіталізації для оцінки комерційної нерухомості в умовах неактивного ринку. Financial and credit activity problems of theory and practice. 1.14, 2013, с. 124-131.
Драпіковський О.І., Іванова І.Б., Смольнікова С.М. під редакцією Шалаєва В.М. Оцінка нерухомого майна. Підручник К.: Видавництво «Арт Економі», 2021. 430 с.
Воронін, В. О., Лянце, Е. В., Мамчин, М. М. Аналітика ринку нерухомості: методологія та принципи сучасної оцінки. Монографія. Львів: Магнолія, 2014. 304 с.
Шалаєв В. М., Іванова І. Б., Драпіковський О. І. Тенденції ринку нерухомості України: реалії та прогнози, 2007 ‒ 2013. Монографія. К: Арт Економі. 2012. 240 с.
Воронін В.О., Зімін О.В., Галасюк В.В. Тенденції ринку нерухомості України. Реалії та прогнози. Криза 2008-20?? Київ: Арт Економі, 2009. 224 с.
Воронін В.О. Вартість нерухомості в умовах інфляції та девальвації. URL: https://afo.com.ua/uk/news/2/858 (дата звернення: 10.12.2024).
Исследование рынка недвижимости по регионам Украины. URL: https://olimp.net.ua/issledovanie-rynka-nedvizhimosti-po-regionam-ukrainy (дата звернення: 10.12.2024).
Kobzan S., Pomortseva O. Real Estate Market of Ukraine. Practical Aspects and Trends. SpringerBriefs in Geography, 2023. 146 р. https://doi.org/10.1007/978-3-031-31248-9_1.
Chuloh Jung, Gamal El Samanoudy, Naglaa Sami Abdelaziz Mahmoud. Evolving dynamics of home renovation in Dubai: A case study of The Springs community. Ain Shams Engineering Journal, 2024. 15 (11). https://doi.org/10.1016/j.asej.2024.103018.
Barbara Cardone, Ferdinando Di Martino, Sabrina Senatore. Real estate price estimation through a fuzzy partition-driven genetic algorithm. Information Sciences, 2024. 667. https://doi.org/10.1016/j.ins.2024.120442.
Marcin Bas. The impact of the war in Ukraine on the residential real estate market on the example of Szczecin, Poland. Procedia Computer Science, 2024. 246. 3004-3013. https://doi.org/10.1016/j.procs.2024.09.371.
Debora Anelli, Francesco Tajani. Spatial decision support systems for effective ex-ante risk evaluation: An innovative model for improving the real estate redevelopment processes. Land Use Policy, 2023. 128. https://doi.org/10.1016/j.landusepol.2023.106595.
Dіm.ria: web site. URL: https://dom.ria.com/uk/search/?excludeSold=1&category=1&realty_type=2&operation=1&state_id=1&price_cur=1&wo_dupl=1&sort=inspected_sort&firstIteraction=false&city_ids=1&client=searchV2&limit=20&type=list&ch=209_f_1,209_t_1,242_239,247_252 (date of the application: 10.12.2024).
Olx.ua: web site. URL: https://www.olx.ua/uk/nedvizhimost/ (дата звернення: 10.12.2024).
Геопортал «Увекон»: web site. URL: https://gisuvecon.com/main/geoportal/ (дата звернення: 10.12.2024).
Construction Review. URL: https://stroyobzor.ua/ru/kharkov/news-industry/yaki-vidi-remontu-kvartir-proponuyut-u-kharkovi-ta-yaka-ikh-vartist-u-2024 (accessed 10.12.2024).
RITM: web site. URL: https://ritm.group/ (дата звернення: 10.12.2024).
Кобзан С. М. Дослідження первинного ринку нерухомості. Комунальне господарство міст. 2021. №. 152. С. 95-101.
Şahin Onur, Gokasar, Ilgin. A Novel Perspective On The Analysis Of Residential Property Prices Near Transportation Investments: Wide-Range Vs Narrow-Range Factors. Computer and Decision Making: An International Journal. 2024. 1. 103-120. https://doi.org/10.59543/comdem.v1i.10235.
Mohamed M. El-Barmelgy, Lahmad M. Shalaby, Usama A. Nassar, 2shimaa M. Ali. The Impact of Urban Regeneration on Land Use in Land with High Urban Value – London VS Beirut. Computer and Decision Making. An International Journal. 2024. 1. 103-120. URL: https://wseas.com/journals/eshc/2021/a04eshc-002(2021).pdf (accessed 10.12.2024). https://doi.org/10.59543/comdem.v1i.10235
Azzam M., Graw V., Meidler E., Rienow, A. Enhancing Property Valuation in Post-War Recovery: Integrating War-Related Attributes into Real Estate Valuation Practices. Smart Cities, 2024. 7. 1776-1801. https://doi.org/10.3390/smartcities7040069.
Balz F. F. User Cost of Housing Analysis of the German Real Estate Market. Acta VŠFS-ekonomické studie a analýzy. ACTA VSFS, University of Finance and Administration, 2024. 18(1), 41-67. http://dx.doi.org/10.37355/acta-2024/1-03/.
Chen H., Hu L., Liu Z., Chen B. Spatial heterogeneity and interaction effect of urban blue and green spaces on housing prices. International Journal of Strategic Property Management, 2024. 28(5). 302–319. URL: https://journals.vilniustech.lt/index.php/IJSPM/article/view/22232 (accessed 10.12.2024). https://doi.org/10.3846/ijspm.2024.22232
Downloads
Published
Issue
Section
License
Authors submitting publications for this edition agree to the following terms:
- The authors retain the copyright to their publications and grant the journal “The Journal of V. N. Karazin Kharkiv National University. Series: International Relations. Economics. Country Studies. Tourism” for the right of first publication.
- Submission and acceptance of a publication to the journal means that the authors grant the journal a non-exclusive license to publish, distribute, and archive the material in print and electronic form and to include it in international abstracting and bibliographic databases.
- Authors may:
- deposit the published version of their work in institutional or disciplinary repositories,
- distribute it on personal or professional web pages,
- use the material for educational or research purposes,
provided that:
- the publication is not altered,
- it is not used for commercial purposes,
- a complete bibliographic reference for the publication in the journal is provided.
Authors' Responsibility
- The authors guarantee that the submitted publication is an original work and does not infringe on the copyrights or intellectual property of third parties.
- The authors confirm that this manuscript has not been published previously and is not under consideration by another publisher.
- If the publication uses materials (figures, tables, data, etc.) belonging to third parties, the authors are responsible for obtaining the necessary permissions and for correctly citing the sources.
Publisher's Responsibility
- This publication ensures a transparent and ethical publication process, as well as open access to all materials in accordance with the terms of the CC BY 4.0 license.
- The publication guarantees long-term digital preservation of content by archiving it in internal and external repositories.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication of this work under the terms of a license Creative Commons Attribution License 4.0 International (CC BY 4.0).
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
